The International Monetary Fund (IMF) has
agreed to Ukraine's Cabinet of Ministers request to modify one of the
parameters of the program of cooperation with Ukraine that will enable
the authorities to make external payments due, including gas payments.
According to the statement of by Max Alier, International Monetary Fund (IMF) Resident Representative for Ukraine, the IMF Executive Board agreed to the government's request to modify the performance criterion on Net International Reserves (NIR), as specified in the current Stand-By Arrangement, to lower the end-December NIR floor by about US$2 billion. This important step will enable the Ukrainian authorities to use existing resources to make external payments due - including gas payments - within the framework of Ukraine's program with the Fund.
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